Kortlandt Taylor began buying stocks in January and almost immediately found herself being whipsawed by the meme stock mania, as GameStop climbed 1,745% before Robinhood restricted trading on its app, causing the shares to tumble. At first “it was going fine,” Taylor, a 27-year-old tax accountant in Atlanta, said in a telephone interview. She’d been
Trader Talk
Wealthfront is exploring a sale that could value the automated wealth manager at as much as $1.5 billion, according to people familiar with the matter. The Palo Alto, California-based company is working with a financial advisor as it considers options, said the people, who asked to not be identified because the matter isn’t public. Wealthfront
Gary Gensler is taking on the world. The head of the Securities and Exchange Commission wants to light up the opaque world of private capital. He has already promised this year a closer look at crypto, online brokers like Robinhood and green investment funds in what has been called an “Everything Crackdown.” A thorough examination
How does a company with the next potential blockbuster idea in wealthtech garner investor attention with everyone fighting for a spot at the table? Advancements in wealth technology have transformed the daily lives of financial advisors, and their clients. From powerful advisor tools focused on portfolio management to client-facing solutions that provide a greater sense
While a seasoned financial planner may have balked at the risks tied to buying meme stocks or joke-born cryptocurrencies this year, investors could easily get caught up in the thrill of big returns and the excitement of getting one over on well-established hedge funds. Emotion, especially ones that heighten the thrill of a win, financial
Far from relegating digital accounts to generic automation and focusing only on young clients, wealth management technology firms are trying to adapt planning and advice tools into their services for investors of all ages and income levels. An influx of new clients investing stimulus dollars or other money during the coronavirus wrought the GameStop short
There are more than 40 ESG ratings, 150 rankings and 450 indices, according to the World Business Council for Sustainable Development. But as quality information about funds’ practices becomes more important for advisors, a lack of standardization and transparency means scores can vary depending on which company is providing the rating. In an analysis for
Investors are enamored of ESGs — values-based investments in companies that are supposedly engaging in positive environmental, social and governance practices. At least that’s what a stream of reports and surveys seems to indicate. Gartner, a technology research and consulting firm based in Stamford, Connecticut, reported earlier this year that 85% of investors at least
Client reports are foundational to your practice. They explain how you’ve been working for your clients and can help justify your fee. One thing I’ve noticed during my nearly five years in financial technology working with portfolio reporting, however, is that many advisors aren’t sure how to optimize client reports. In fact, there are some
A series of examinations into digital investment advisory services found nearly every robo advisor, including software used by traditional advisors to automate investing, is falling short of compliance duties, according to an SEC risk alert. While robo advisors can provide convenient and inexpensive services for investors while enhancing efficiencies for wealth management firms, they can
New York Life invested $30 million in a Community Development Financial Institution fund focused on advancing minority affordable housing developers. Altruist released a podcast with its former CEO that delves into his three decades with the asset management company. Hightower has added several offices in Manhattan and SoHo. As always, advisors are on the move,
The private equity recapitalization of a firm that has emerged in recent years as one of the most active and fastest growing RIA consolidators gave the company a multibillion-dollar valuation. A PE fund affiliated with publicly traded investment manager Onex Corporation paid $226 million for “economic ownership” of 11% of Wealth Enhancement Group, according to
As wealth managers seek to hire and serve more Black Americans and other historically excluded minorities, financial advisors have a new roadmap for racial equity investing. The Croatan Institute, a nonprofit research organization that focuses on using finance to advance social equity and sustainability, compiled a list of public and private funds, fixed-income products and
Much as it did this summer, CI Financial is celebrating another record quarter powered by a rapid stateside expansion. The Toronto-based firm reached new all-time highs for asset levels and the best net flows in its asset management business in more than six years, CI Financial CEO Kurt MacAlpine said in the firm’s third-quarter earnings
As clients clamor for investments dubbed socially responsible, regulators are closing in on how the widely used environmental, social and governance (ESG) moniker is bestowed and deployed. It’s an urgent challenge. This year, the SEC cautioned companies and funds that tout their ESG practices and labels. As the wealth management industry talks up the benefits
A brokerage firm accused of churning client accounts and years of supervisory failures has settled with FINRA to the tune of $2.8 million. FINRA announced Tuesday it had sanctioned Aegis Capital, a New York-based firm with 300 registered representatives in its 23 branch offices, in a case involving allegedly excessive and unsuitable trading in customer
After closing a big acquisition and recording its third straight quarter of a record in-flow of assets, AssetMark is seeking to expand further by competing against fellow platforms and RIA aggregators for business among small practices. The turnkey asset management program and outsourced investment technology firm has generated higher adjusted earnings in the first nine
Investors may need more equities in their portfolios to generate positive returns thanks to misfiring bonds, according to Goldman Sachs Group strategists. It might not be their base case just yet, but the strategists suggest a higher allocation to stocks and cash than the historic norm would be advisable in a world where Treasuries struggle
Selim Korkutata | Anadolu Agency | Getty Images The Securities and Exchange Commission has until Nov. 14 to give a thumbs up or thumbs down to the VanEck Bitcoin ETF, the first exchange-traded fund in a long line of “spot” bitcoin ETFs that have applications in front of the regulator. The SEC has delayed a
RIAs overwhelmingly continue to charge fees based on assets under management, but alternative fee structures, including flat fees, are gaining ground as the industry fights to pull clients out of brokerages. Even in the midst of a second tumultuous pandemic year, some financial industry verities remain in place. For one, registered investment advisors’ fees remain
Even though it’s adding tens of thousands of new accounts every week, Envestnet CEO Bill Crager said there are “accelerating” opportunities for the wealth technology firm in banking. The Chicago-based tech firm and turnkey program has raked in a record in-flow of assets under management and administration in the first nine months of 2021, in
Women and minority-led hedge funds have outperformed their non-diverse peers over the short and long term, according to the Bloomberg Hedge Fund Chartbook. Funds with minorities represented in management had a median one-year total return of 29.6%, and those with women represented in management returned 21.6%. Fund managers without those attributes had a 12.7% gain
The largest wealth managers in the world sustained only a slight dip in their double-digit growth during a year rocked by the coronavirus pandemic. In fact, the steadiness of firms such as UBS, Morgan Stanley, Merrill Lynch, J.P. Morgan Chase and Wells Fargo in their positions atop research and consulting firm Aite-Novarica Group’s annual rankings
Driven by the desire to secure income beyond their playing years — and tales of their contemporaries making millions on the next big thing — athlete investors are a rapidly growing segment in the world of wealth management. But tending to the investment portfolio of a client expected to have a short career and a
When InvestCloud revealed the latest iteration of its cloud-based technology suite for financial advisors, CEO John Wise took a few moments to flex. After 11 years, the startup is used by wealth management firms that collectively manage $6.3 trillion in assets across 20 million investor accounts. Though the company wouldn’t specify just how many of
The Internal Revenue Service said Thursday that the amount that individuals can contribute to their 401(k) plans is increasing to $20,500 in 2022, up from $19,500 for 2021 and 2020, as part of its annual inflation adjustments. The IRS also released technical guidance Thursday about various other cost-of-living adjustments affecting dollar limitations for pension plans
By way of reminder, it’s been nearly 30 years since inflation in the U.S. exceeded 4% and nearly four decades since the country experienced a protracted run of rising prices. A period of the sort is likely to be unremembered, unknown even, for a good number of us. But as the post-COVID economy picks up
Securities and Exchange Commission Chair Gary Gensler warned the financial industry that he won’t shy away from going after big firms pushing the limits in areas that are priorities for the agency, including crypto trading, cyber fraud and SPACs. Wall Street’s top regulator, making his first speech on his approach to enforcement, said he wanted
Credit Suisse Group AG will exit the hedge fund business at the heart of the Archegos Capital Management scandal and shift more resources to wealth management as it seeks to draw a line under a tumultuous year. The bank is discontinuing most prime brokerage after the implosion of Bill Hwang’s family office cost it billions
Investors are more and more interested in putting their money where their hearts lie. RBC has a report out that shows advisors’ faith in ESG-integrated portfolios. And Interactive Brokers has a new app that allows investors to choose investments based on their values. J.P. Morgan is offering an investment summit for Black and Latina woman.
- « Previous Page
- 1
- …
- 19
- 20
- 21
- 22
- 23
- …
- 77
- Next Page »